Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to accept the proposals for FY 2021 for Excess Liability Insurance from, and to execute any necessary Contracts and documents on behalf of the Urban County Government with, the following insurance companies and/or their respective broker Marsh & McLennan Agency: Aviation from Westchester Fire Insurance Co. at a cost not to exceed $23,655.26; General, Auto, Public Officials, Law Enforcement, Professional, and Excess Liability from Safety National Casualty Corporation at a cost not to exceed $478,193.17; Property from Affiliated Factory Mutual (FM) at a cost not to exceed $479,502.00; Cyber from Ace American Insurance Co. at a cost not to exceed $23,461.93; Pollution from Illinois Union Insurance Co. at a cost not to exceed $19,614.67; Workers’ Compensation from Safety National Casualty Corporation at a cost not to exceed $380,437.00; the Workers’ Compensation Payroll Audit from Safety National Casualty Corporation at a cost not to exceed $5,000.00; and Parks and Recreation Student Insurance from Marsh & McLennan at a cost not to exceed $4,590.00, all subject to sufficient funds being appropriated. [Div. of Risk Management, Skidmore]
Summary
Authorization to accept the proposals for FY2021 for Excess Liability Insurance from Marsh & McLennan Insurance Agency: Aviation from Westchester Fire Insurance; General, Auto, Public Officials, Law Enforcement, and Professional from Safety National Casualty Corporation; Excess Liability from Safety National Casualty Corporation; Property from Affiliated Factory Mutual (FM); Cyber from Ace American Insurance Company; Pollution from Illinois Union Insurance Company; Workers’ Compensation from Safety National Casualty Corporation; the Workers’ Compensation Payroll Audit; and Parks and Recreation Student Insurance; and Industrial Insured Certification, in the amount of $1,414,556.03. All subject to sufficient funds being appropriated. (L0541-20) (Skidmore/Hamilton)
Budgetary Implications: Yes
Advance Document Review:
Law: Yes, Completed by Keith Horn, June 1, 2020
Risk Management: Yes, Completed by Mike Skidmore, June 1, 2020
Fully Budgeted: Yes
Account Number: 1101-XXXXXX-XXXX-73101 $1,006,739.52
1115-XXXXXX-XXXX-73101 $98,170.18
4002-XXXXXX-XXXX-73101 $307,948.84
4051-XXXXXX-XXXX-73101 $1,697.47
This Fiscal Year Impact: $1,414,556.01
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance: Budgeted in the Mayor’s Proposed Budget
Body
BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the Mayor, on behalf of the Lexington-Fayette Urban County Government, be and hereby is authorized to accept the proposals for FY 2021 for excess liability insurance, which are attached hereto and incorporated herein by reference, and to execute, on behalf of the Lexington-Fayette Urban County Government, any necessary contracts or documents with the following insurance companies by and through Marsh & McLennan Agency as broker: Westchester Fire Insurance Company for aviation; Safety National Casualty Corporation for general, auto, public officials, law enforcement, professional, and excess liability, as well as the Workers’ Compensation Payroll Audit; Affiliated Factory Mutual (FM) for property; ACE American Insurance Company for cyber; Illinois Union Insurance Company for pollution; Safety National Casualty Corporation for workers’ compensation; and Marsh & McLennan for Parks and Recreation Student Insurance.
Section 2 - That an amount, not to exceed the sums stated, be and hereby is approved for payment to Marsh & McLennan Agency on behalf of the insurance companies, and/or the companies: Westchester Fire Insurance Company - $23,655.26; Safety National Casualty Corporation - $478,193.17; Affiliated Factory Mutual (FM) - $479,502.00; ACE American Insurance Company - $23,461.93; Illinois Union Insurance Company - $19,614.67; Safety National Casualty Corporation - $380,437.00; Safety National Casualty Corporation - $5,000.00; and Marsh & McLennan - $4,590.00 from FY 2021 account numbers 1101-XXXXXX-73101 ($1,006,799.07), 1115-XXXXXX-73101 ($98,111.85), 4002-XXXXXX-73101 ($307,929.67), and 4051-XXXXXX-73101 ($1,715.44) pursuant to the terms of the proposed contracts, and subject to sufficient funds being appropriated in these accounts.
Section 3 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL: